Earnings Per Share

9 Months Ended

Jun. 30, 2025

Basic earnings per share is calculated by dividing income available to common shareholders by the weighted average number of common shares outstanding and restricted stock grants that vested or are likely to vest during the period. Diluted earnings per share is calculated by dividing income available to common shareholders by the weighted average number of basic common shares outstanding, adjusted to reflect potentially dilutive securities. Diluted earnings per share is calculated using the treasury stock method.

Earnings per share information is presented in the table below (in thousands except for per share amounts):


	Three Months Ended				Nine Months Ended
	June 30,				June 30,
	2025		2024		2025		2024
Numerator:
Net income	$	289	$	1,139	$	2,281	$	5,102
Denominator:
Denominator for basic net income per share - weighted-average outstanding shares	14,386		14,232		14,386		14,156
Effect of dilutive securities:
Stock options and restricted stock	64		472		72		560
Denominator for diluted net income per share - weighted-average outstanding shares	14,450		14,704		14,458		14,716

Net income per share - basic	$	0.02	$	0.08	$	0.16	$	0.36
Net income per share - diluted	$	0.02	$	0.08	$	0.16	$	0.35